Question: Given the following information, compute the current and quick ratios: Cash $ 100,000 Accounts receivable 392,000 Inventory 470,000 Current liabilities 499,000 Long-term debt 583,000 Equity

Given the following information, compute the current and quick ratios:

Cash $ 100,000

Accounts receivable 392,000

Inventory 470,000

Current liabilities 499,000

Long-term debt 583,000

Equity 589,000

Round your answers to two decimal places.

Current ratio: :1

Quick ratio: :1

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